Stamp Duty - Budget 2010

squirter99

princessamy86 wrote: »

I really don't see how they can apply this to just FTBs. There won't be a structure in place to police it if it's going to apply from midnight tonight, so I'm inclined to go with the Guardian's view on things that it will apply to all properties under the threshold. Maybe the FTB thing was just to point out who it would be of most benefit to? Great for FTBs in the South obviously, but realistically here up north, £250k is going to buy you a 4 or 5 bed detached on a modern estate, or maybe a 3 bed older house with a big garden. Sigh, I've confused myself!

I agree that it will be difficult to police, maybe they are just hoping that people are honest, and if not the Govt. will catch up with them when the systems are ready. The fact that Darling specifically mentioned FTB's makes me think that it won't apply to anyone who has owned before.

new_home_owner_3

RLH33 wrote: »

For first time buyers only? How on earth will they police that?

What is the definition of a first time buyer?

?

they will police it through the land registry, if you have ever bought a house you will be on there and you will not be entitled to it.

Its crap really they should have just got rid of stamp duty for anyone not first time buyers, how many first time buyers can buy a house for 240,000 pound?

I think the threshold is 135,000 pounds so this decision will probably help very few people.

squirter99

new_home_owner wrote: »

they will police it through the land registry, if you have ever bought a house you will be on there and you will not be entitled to it.

Its crap really they should have just got rid of stamp duty for anyone not first time buyers, how many first time buyers can buy a house for 240,000 pound?

I think the threshold is 135,000 pounds so this decision will probably help very few people.

That's all part of the spin. It looks a better deal than it really is

princessamy86

new_home_owner wrote: »

they will police it through the land registry, if you have ever bought a house you will be on there and you will not be entitled to it.

Its crap really they should have just got rid of stamp duty for anyone not first time buyers, how many first time buyers can buy a house for 240,000 pound?

I think the threshold is 135,000 pounds so this decision will probably help very few people.

Current threshold is £125,000. I believe not every transaction is recorded on the Land Registry (that might be very wrong)? And I wonder how they will treat couples?

new_home_owner_3

princessamy86 wrote: »

Current threshold is £125,000. I believe not every transaction is recorded on the Land Registry (that might be very wrong)? And I wonder how they will treat couples?

The land registry is like the dvla with car owners, they can trace back who has owned a car since it comes of the production line.

I just dont think it will help anyone out, why they couldnt have done it for everyone amazes me, they have done this and it wont help many first time buyers out.

It will help first time buyers who can afford to pay 125000 to 250000 pound for a house, surely there can not be many people in that bracket?

new_home_owner_3

princessamy86 wrote: »

Current threshold is £125,000. I believe not every transaction is recorded on the Land Registry (that might be very wrong)? And I wonder how they will treat couples?

if there are ways around it i hope people find out how to do it, so its not just for first time buyers, what amazes me is its to help people buy houses up to 250,000 so really they should include for people who can affrd to buy houses upto 250,000 whether they are first time buyers or not.

Gizmogiz

Firstly in answer to the post above, lots of FTBs can afford to buy in the £125-250k bracket. You can't get much of a house for less than £125k in a lot of areas and we've been saving for ages and have a good joint income.

Secondly it looks like I'm one of the FTBS who'll miss out because I stupidly owned a house 5 years ago when I was young and stupid with an ex and now it means I won't be eligible for this deal. My husband is going to suffer and its just a stupid rule, they should have just raised the threshold for everyone. :mad:

new_home_owner_3

Gizmogiz wrote: »

Firstly in answer to the post above, lots of FTBs can afford to buy in the £125-250k bracket. You can't get much of a house for less than £125k in a lot of areas and we've been saving for ages and have a good joint income.

Secondly it looks like I'm one of the FTBS who'll miss out because I stupidly owned a house 5 years ago when I was young and stupid with an ex and now it means I won't be eligible for this deal. My husband is going to suffer and its just a stupid rule, they should have just raised the threshold for everyone. :mad:

Yeah but if you are married your name will have changed, now you are married,so hopefully you will get away with it.:)

confusedroast

MissMotivation wrote: »

Not a chance in hell that they will change the thresholds.

In fact.....I will eat my shiny suit if they change it :D

GET MUNCHING!!:eek::rotfl:

bobbybathhead

Hmmm, I'm just in the process of selling my house and buying with my partner (not married yet, this sept!). Now the house we are buying is 200k and my name is on the mortgage so i'm not a FTB but my partner is. Does this mean i'm scuppered? Could we buy this house and just have it under my partners name?

Plus, who is actually being tasked with checking the land registry?? A bit hard to trace surely!